Category: Press Release

The global Intelligent Braking System market is projected to be valued at USD 19.76 Billion by 2033, recording a CAGR of around 30.01% during the forecast period. An Intelligent Braking System (IBS) is an advanced safety technology in automobiles that uses sensors and artificial intelligence to detect potential collisions and automatically apply the brakes to prevent or minimize the impact of a collision. The system typically employs a combination of radar, lidar, and camera sensors to detect obstacles or other vehicles in the vicinity. It then uses machine learning algorithms to analyze the data from these sensors and predict potential collisions. If a potential collision is detected, the system can activate the brakes and/or provide a warning to the driver to take evasive action. IBS can be particularly useful in situations where a driver may not be able to react quickly enough, such as when they are distracted or inattentive.

The COVID-19 pandemic had a negative impact on the Intelligent Braking System market. Resulted in a significant decrease in the demand for automobiles due to the economic downturn and reduced mobility. This led to a decline in the production and sale of vehicles, which in turn affected the market for IBS technology. Overall, while the pandemic may have slowed down the growth of the IBS market in the short term, it is likely that the demand for these systems will continue to increase in the long run as people become more safety-conscious and as governments introduce regulations mandating the use of advanced safety technology in vehicles.

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Segmental Analysis

The global Intelligent Braking System market has been segmented based on Type, Application, and region.

Based on the Type, the Intelligent Braking System market is segmented based on ABS, EBS, and Others. The ABS is expected to have the largest market share throughout the forecast period, as it is a well-established technology that has been in use for several decades and is now a standard safety feature in many vehicles.

Based on Application, the global Intelligent Braking System market has been divided into Automotive, Aircraft, Trains, and Others. The Automotive segment is expected to dominate the Intelligent Braking System (IBS) market, as it is the largest market for IBS technology. The automotive industry is rapidly adopting advanced safety technologies to improve vehicle safety and reduce the risk of accidents.

Regional Analysis

The Intelligent Braking System market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North American region includes the United States, Canada, and Mexico. North America is a significant market for IBS technology due to the high demand for safety features in vehicles and the presence of key automotive manufacturers. Europe region includes countries in Western and Eastern Europe. Europe is a major market for IBS technology due to stringent safety regulations and high levels of consumer awareness about safety features in vehicles. Asia-Pacific is the largest market for IBS technology due to the high demand for automobiles in the region and the increasing focus on safety features. Latin America, the Middle East, and Africa is an emerging market for IBS technology, driven by the growing demand for safety features in vehicles and increasing consumer awareness.

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The global In-Vitro Diagnostics market is projected to be valued at USD 117.81 Billion by 2033, recording a CAGR of around 5.42% during the forecast period. In-Vitro Diagnostics (IVD) refers to medical tests and procedures that are performed on biological samples such as blood, urine, or tissue, outside of the body in a laboratory setting. These tests are used to detect and diagnose diseases, monitor treatment progress, and screen for potential health conditions. IVD tests can range from simple tests such as glucose monitoring to more complex tests like genetic testing, immunoassays, and molecular diagnostics. They can be used to diagnose a variety of medical conditions such as infectious diseases, cancer, diabetes, cardiovascular diseases, and autoimmune disorders. IVD plays an essential role in modern healthcare, providing healthcare professionals with critical information to aid in the diagnosis, treatment, and management of diseases.

The COVID-19 pandemic had a significant positive impact on the In-Vitro Diagnostics (IVD) market. The outbreak of COVID-19 had led to a surge in demand for diagnostic testing, as testing is essential for identifying infected individuals, monitoring disease progression, and implementing effective public health measures to contain the spread of the virus.

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Segmental Analysis

The global In-Vitro Diagnostics market has been segmented based on Product And Services, Technique, Application, End User, and region.

By Product And Services, the In-Vitro Diagnostics market is segmented based on Reagents, Instruments, Software, And Services. Reagents are expected to have the largest market share throughout the forecast period, while Instruments are expected to grow at the fastest rate.

Based on Technique, the In-Vitro Diagnostics market is segmented based on Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, and Others. Molecular Diagnostics is anticipated to dominate the market.

Based on Application, the global In-Vitro Diagnostics market has been divided into Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, and Others. Infectious Diseases are anticipated to dominate the market.

Based on End User, the global In-Vitro Diagnostics market has been divided into Standalone Laboratories, Hospitals, Academic And Medical Schools, Point Of Care, and Others. Hospitals are anticipated to dominate the market.

Regional Analysis

The In-Vitro Diagnostics market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America and Europe are the largest markets for IVD, with a high adoption rate of advanced medical technologies and a well-established healthcare system. The Asia-Pacific region is the fastest-growing market due to a large population base and rising awareness of the benefits of early disease diagnosis and prevention. The Latin America region is also growing steadily due to increasing investments in healthcare infrastructure and an aging population. The Middle East and Africa regions are expected to witness significant growth due to rising healthcare expenditure and a growing prevalence of chronic diseases.

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The global IoT in Water Utility market is projected to be valued at USD 42.23 Billion by 2033, recording a CAGR of around 14.72% during the forecast period. IoT (Internet of Things) in water utility refers to the use of connected devices and sensors to collect and analyze data related to the water supply and distribution system. IoT can be used to monitor and manage various aspects of water utility operations, such as water quality, pressure, flow, and consumption. For example, sensors can be placed in water treatment plants to monitor the quality of the water and detect any anomalies or contaminants. Similarly, sensors can be installed in pipes and other infrastructure to monitor the flow of water and detect leaks or other issues.

The COVID-19 pandemic has indeed had a negative impact on various industries, including the IoT in water utility market. One of the major challenges faced by the IoT in water utility market during the pandemic has been the disruption of supply chains, which has resulted in delays in the delivery of components and equipment needed for IoT systems. This has affected the implementation of new IoT projects and slowed down the overall growth of the market.

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Segmental Analysis

The global IoT in Water Utility market has been segmented based on Type, Application, and region.

Based on the Type, the IoT in Water Utility market is segmented based on Devices and Gateways. The device is expected to have the largest market share throughout the forecast period, while Gateways is expected to grow at the fastest rate.

Based on Application, the global IoT in Water Utility market has been divided into Commercial and Residential. The Commercial segments are anticipated to dominate the market. The commercial sector includes businesses, offices, and other commercial buildings that require large amounts of water for various purposes such as cleaning, cooling, and heating. The market is driven by the increasing need for water conservation and sustainability in commercial buildings.

Regional Analysis

The IoT in Water Utility market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America is considered one of the leading regions in the IoT water utility market, with the United States being the largest contributor to the market growth. The region has a high adoption rate of IoT solutions in the water utility sector due to the availability of advanced technologies and infrastructure, and the increasing need for sustainable water management practices. Europe is another significant region in the IoT in water utility market, with countries such as Germany, France, and the UK driving the growth of the market. The region has stringent regulations regarding water quality and conservation, which has led to the adoption of IoT solutions to monitor and control water usage. The Asia-Pacific region is expected to see significant growth in the IoT in water utility market due to the increasing demand for water management solutions in countries such as China, India, and Japan. The region has a large population and is facing challenges related to water scarcity, which is driving the need for IoT solutions to optimize water usage and reduce waste. Latin America, the Middle East, and Africa are also emerging regions in the IoT in water utility market. These regions have a growing demand for water management solutions, driven by the need for sustainable and efficient water management practices.

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Market Highlights

The global Workplace Stress Management market is projected to be valued at USD 16.89 Billion by 2033, recording a CAGR of around 6.01% during the forecast period. The activities and methods people and organizations employ to lessen the physical and psychological impacts of stress at work are referred to as workplace stress management. It includes locating and controlling causes of stress, putting measures into place to lessen or get rid of stressors, and offering support and resources to assist people to manage stress. The goal of workplace stress management is to minimize the negative effects of stress on both individuals and the business while fostering a work environment that supports employee well-being, productivity, and job satisfaction. It could consist of a variety of interventions, including time management approaches, mindfulness training, employee aid programs, stress reduction programs, and relaxation techniques.

The Covid-19 pandemic had a favorable impact on the workplace’s stress management system. People’s working life has been made more difficult by the epidemic and its consequences. Layoffs, punitive measures including lockdowns and mandated work-from-home orders, and other restrictive measures have left many individuals in a state of financial and employment instability. for lowering workplace stress. The company had put in place a program to help employees identify their level of stress and find ways to reduce it to increase productivity. This program included scheduling fun and social time, resilience training, yoga and meditation, access to mental health counseling services, and metrics for tracking progress.

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Segmental Analysis

The global Workplace Stress Management market has been segmented based on Type, Application, and region.

Based on the Type, the Workplace Stress Management market is segmented based on Meditation & Yoga, Stress Assessment, Progress Tracking Metrics, Resilience Training, and Others. Meditation & Yoga is expected to have the largest market share throughout the forecast period, while Resilience Training is expected to grow at the fastest rate.

Based on Application, the global Workplace Stress Management market has been divided into Outdoor and Indoor. The Indoor segments are anticipated to dominate the market.

Regional Analysis

The Workplace Stress Management market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. In North America and Europe, factors such as high job demands, long working hours, and job insecurity can lead to high levels of workplace stress. Other factors such as a focus on employee well-being, increasing healthcare costs, and a competitive job market can drive demand for stress management services. In the Asia-Pacific region, factors such as rapid economic growth, increasing job demands, and intense competition can lead to high levels of workplace stress. Other factors such as cultural attitudes toward mental health and well-being, increasing healthcare costs, and government initiatives to address workplace stress are driving demand for stress management services. In Latin America, factors such as political instability, economic uncertainty, and high levels of inequality can lead to workplace stress. Additionally, cultural attitudes toward mental health and well-being, increasing healthcare costs, and a focus on employee retention and engagement are driving demand for stress management services.

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Evolve Business Intelligence has published a research report on the Global Supply Side Platform (SSP) Market, 2023–2033. The global Supply Side Platform (SSP) market is projected to exhibit a CAGR of around 13.36% during the forecast period of 2023 to 2033.

Evolve Business Intelligence has recognized the following companies as the key players in the global Supply Side Platform (SSP) Market: InMobi Pte Ltd, Google Inc, Chartboost, Vungle, AdsKeeper advertising network, Adblade, Avocarrot Ltd, APPLOVIN, Disqus, RevMob, ADDCOLONY, Unity technologies, MoPub, Adcash, AdMaven, Zeropark, Inneractive, Propeller Ads

Market Highlights

The global Supply Side Platform (SSP) market is projected to be valued at USD 117.32 Billion by 2033, recording a CAGR of around 13.36% during the forecast period. A supply-side platform (SSP) is a type of ad tech platform that helps website publishers and app developers monetize their inventory by connecting them with advertisers and ad exchanges. SSPs typically offer tools to help publishers manage inventory, set prices, and track performance. Some SSPs also offer demand-side platform (DSP) capabilities, which allow publishers to buy and manage advertising on other websites and applications.

The market for SSPs was significantly impacted by the Covid-19 pandemic. Due to advertisers’ spending reductions in response to the epidemic, there is a decline in demand for SSPs. SSPs’ revenues have decreased as a result of this. The epidemic has also caused publishers to reduce their ad space, which has resulted in a drop in the quantity of ad inventory. This has also led to a decline in revenues for SSPs.

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Segmental Analysis

The global Supply Side Platform (SSP) market has been segmented based on Component, Application, End-Use Industry, and region.

Based on the Component, the Supply Side Platform (SSP) market is segmented based on Software/Platform, Services. Software/Platform is expected to have the largest market share throughout the forecast period, while Resilience Training is expected to grow at the fastest rate.

Based on Application, the global Supply Side Platform (SSP) market has been divided into Bidding, Targeting, and Online Advertising. The Online Advertising segments are anticipated to dominate the market.

Based on End Use Industry, the global Supply Side Platform (SSP) market has been divided into BFSI, IT and Telecommunication, Retail and Wholesale, Manufacturing, Education, Government, Travel, and Others. The Retail and Wholesale segments are anticipated to dominate the market.

Regional Analysis

The Supply Side Platform (SSP) market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. In North America, factors such as the high adoption of programmatic advertising, the growing trend of using data-driven insights for ad targeting, and the presence of large publishers and advertisers are driving the demand for SSPs. In Europe, factors such as the high adoption of programmatic advertising by a large number of small and medium-sized publishers, and the need to reach specific audiences in different languages and cultures are driving the demand for SSPs. In the Asia-Pacific region, factors such as the rapidly growing digital advertising industry, increasing internet penetration, and the adoption of mobile devices for browsing are driving the demand for SSPs. Additionally, the need to address issues such as ad fraud and brand safety is also driving the adoption of SSPs. In Latin America, factors such as a growing number of mobile users, and the need to reach diverse audiences across multiple languages and cultures are driving the demand for SSPs.

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Evolve Business Intelligence has published a research report on the Global Rubber Muffler Hanger Market, 2023–2033. The global Rubber Muffler Hanger market is projected to exhibit a CAGR of around 4.40% during the forecast period of 2023 to 2033.

Evolve Business Intelligence has recognized the following companies as the key players in the global Rubber Muffler Hanger Market: SONUS, Bridgestone, BOSAL, Torque Solution, Vibracoustic, Walker, CUSCO, Zhongding, Delmon Group, Powerflex.

Market Highlights

The global Rubber Muffler Hanger market is projected to be valued at USD 1.53 Billion by 2033, recording a CAGR of around 4.40% during the forecast period. A rubber muffler hanger is a device used to support a vehicle’s muffler. It is typically made of rubber and has two holes through which the muffler’s exhaust pipes can be passed. The hanger is then mounted to the vehicle’s frame or body. The primary purpose of a rubber muffler hanger is to keep the muffler from coming into contact with the ground or other objects. This protects the muffler from damage and helps to keep it from becoming clogged with debris. Additionally, the hanger helps to reduce vibration and noise from the muffler.

The Covid-19 pandemic had a negative impact on the rubber muffler hanger market due to the slowdown in production. The demand for rubber muffler hangers has decreased due to the decrease in the production of automobiles. The decline in the production of automobiles has been caused by the lockdown imposed by various governments to contain the spread of the pandemic. This has led to a decrease in the demand for rubber muffler hangers and a consequent decrease in the market size of the rubber muffler hanger market.

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Segmental Analysis

The global Rubber Muffler Hanger market has been segmented based on Product, Material, Vehicle Type, and region.

Based on the Product, the Rubber Muffler Hanger market is segmented based on 2 Holes, 4 Holes, and Others. 2 Holes is expected to have the largest market share throughout the forecast period, while 4 Holes is expected to grow at the fastest rate.

Based on Material, the global Rubber Muffler Hanger market has been divided into EPDM, Silicon, and Others. The EPDM segments are anticipated to dominate the market.

Based on Vehicle Type, the global Rubber Muffler Hanger market has been divided into Passenger Vehicles, Commercial Vehicles. The Passenger Vehicles segment is anticipated to dominate the market.

Regional Analysis

The Rubber Muffler Hanger market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. The demand for rubber muffler hangers in North America is driven by the high production of automobiles in the region, as strict emission regulations require high-quality and durable muffler systems. The European market for rubber muffler hangers is driven by a growing demand for lightweight and efficient muffler systems, as well as stringent emission regulations that require vehicles to meet strict emission standards. The Asia-Pacific region is the largest market for rubber muffler hangers and is driven by a growing demand for vehicles, particularly in emerging economies such as China and India. The region is also witnessing increasing investments in the automotive industry, which is driving the demand for rubber muffler hangers. The demand for rubber muffler hangers in Latin America is driven by the growing automotive industry in the region, particularly in countries such as Brazil and Mexico. The Middle East market for rubber muffler hangers is driven by a growing demand for vehicles, particularly luxury cars, as well as the increasing adoption of emission regulations in the region. The African market for rubber muffler hangers is driven by a growing demand for vehicles, particularly in countries such as South Africa and Nigeria, increasing investments in the automotive industry in the region.

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Evolve Business Intelligence has published a research report on the Global Construction Robotics Market, 2022–2033. The global Construction Robotics market is projected to exhibit a CAGR of around 21.68% during the forecast period of 2022 to 2033.

Evolve Business Intelligence has recognized the following companies as the key players in the global Construction Robotics Market: Beijing Borui Intelligent Control Technology Co. Ltd, Branch Technology, Brokk Group, Built Robotics Inc, Conjet, Construction Robotics, Kewazo, Fastbrick Robotics, Fujita, Yingchuang Building Technique Co. Ltd.

 

Market Highlights

The global Construction Robotics market is projected to be valued at USD 14.71 Billion by 2030, recording a CAGR of around 21.68% during the forecast period. Construction robotics is the application of robotics and automation technologies in the field of construction to improve the efficiency, safety, and productivity of construction projects. This involves the use of robots, drones, and other automated machinery to perform tasks such as bricklaying, welding, demolition, excavation, and other labor-intensive activities. The technology is designed to reduce the need for manual labor and to enhance the quality and precision of construction work. It has the potential to revolutionize the construction industry by reducing costs, improving safety, and increasing the speed of construction projects.

The market for construction robotics was negatively impacted by the pandemic. The global supply chain was hampered, resulting in delays and shortages of crucial parts and supplies required for construction robots. Construction robot demand was impacted as a result of project cancellations and delays. Further reducing the market for construction robots was the pandemic’s requirement that several construction sites either close or operate at reduced capacity. The pandemic-induced economic downturn also resulted in a fall in building activity, which lowered the need for construction robots.

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Segmental Analysis

The global Construction Robotics market has been segmented based on Type, Automation, Function, Application, and region.

By Type, the Construction Robotics market is segmented based on Traditional robots, Robotic arms, and exoskeletons. Robotic arms are expected to have the largest market share throughout the forecast period, while exoskeletons are expected to grow at the fastest rate.

Based on Automation, the Construction Robotics market is segmented based on Fully Autonomous, Semi-Autonomous. The Fully Autonomous is anticipated to dominate the market.

Based on Automation, the global Construction Robotics market has been divided into Demolition, Bricklaying, 3d Printing, Concrete Structural Erection, Finishing Work, Doors And Windows Installation, and Others. Demolition is anticipated to dominate the market.

Based on Automation, the global Construction Robotics market has been divided into Public Infrastructure, Commercial and Residential Buildings, Nuclear Dismantling and Demolition, and Others. Public Infrastructure is anticipated to dominate the market.

Regional Analysis

The Construction Robotics market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America has been at the forefront of the development and adoption of construction robotics, with many startups and established companies offering innovative solutions. Europe has also been a strong market for construction robotics, particularly in countries like Germany, France, and the U.K. Asia-Pacific, on the other hand, has seen significant growth in recent years, driven by the increasing demand for construction projects and a growing population. Latin America, the Middle East, and Africa are also emerging markets for construction robotics, with significant potential for growth in the coming years.

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Evolve Business Intelligence has published a research report on the Global Zero Trust Security Market, 2022–2033. The global Zero Trust Security market is projected to exhibit a CAGR of around 18.21% during the forecast period of 2022 to 2033.

Evolve Business Intelligence has recognized the following companies as the key players in the global Zero Trust Security Market: Palo Alto Networks Inc, Symantec Corporation, Okta Inc, Cisco Systems Inc, Akamai Technologies Inc, Microsoft, IBM, Sophos Group, Centrify Corporation, Cyxtera Technologies.

Market Highlights

The global Zero Trust Security market is projected to be valued at USD 141.52 Billion by 2030, recording a CAGR of around 18.21% during the forecast period. The Zero Trust model requires continuous authentication and authorization, even after users and devices have gained access to the network, and enforces strict access controls and segmentation to limit lateral movement within the network. This approach is designed to mitigate the risks associated with traditional perimeter-based security models, which rely on the assumption that everything inside the network is trustworthy and that threats can be kept out by securing the perimeter. By adopting a Zero Trust Security model, organizations can better protect their critical assets, reduce the risk of data breaches, and minimize the impact of security incidents.

The market for Zero Trust Security was positively impacted by the pandemic. With the widespread adoption of remote work and cloud-based applications, the traditional perimeter-based security model became increasingly ineffective in protecting sensitive data and critical assets from cyber threats. The Zero Trust Security approach, which emphasizes continuous authentication, strict access controls, and segmentation, became more relevant than ever in this context. As a result, organizations across industries accelerated their adoption of Zero Trust Security solutions to better protect their remote workforce and cloud environments.

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Segmental Analysis

The global Zero Trust Security market has been segmented based on Deployment Type, Solution Type, Authentication Type, Vertical, and region.

Based on the Deployment Type, the Zero Trust Security market is segmented based on On-Premises and Cloud. The cloud is expected to have the largest market share throughout the forecast period, while exoskeletons are expected to grow at the fastest rate.

Based on Solution Type, the global Zero Trust Security market has been divided into Network Security, Data Security, Endpoint Security, API Security, Security Analysis, and Others. The Data Security segment is anticipated to dominate the market.

Based on Authentication Type, the global Zero Trust Security market has been divided into Single-factor Authentication and Multi-factor Authentication. Multi-factor Authentication segment is anticipated to dominate the market.

Based on Vertical, the global Zero Trust Security market has been divided into IT and ITES, Financial and Insurance, Healthcare and Social Assistance, Retail Trade, Utilities, and Others. IT and ITES segments are anticipated to dominate the market.

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Regional Analysis

The Zero Trust Security market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America is expected to dominate the market in terms of revenue due to the high adoption rate of Zero Trust Security solutions among organizations in the region. The United States is a major contributor to the growth of the market in North America, driven by the increasing number of cyber-attacks and the need to secure critical assets and data. Europe is also expected to witness significant growth in the Zero Trust Security market due to the presence of several key players and the increasing focus on regulatory compliance, particularly with the implementation of the General Data Protection Regulation (GDPR). The Asia-Pacific region is expected to be the fastest-growing market for Zero Trust Security, owing to the increasing adoption of cloud-based applications and the rising number of cyber threats in the region. Latin America, the Middle East, and Africa are also expected to witness significant growth in the Zero Trust Security market due to the increasing number of cyber-attacks and the growing awareness of the importance of cybersecurity among organizations in these regions.

Evolve Business Intelligence has published a half-cooked research report on the Global Smart Lighting Market, 2021–2030. The global Smart Lighting market is projected to exhibit a CAGR of around 20.4% during the forecast period of 2022 to 2030.

Evolve Business Intelligence has recognized the following companies as the key players in the global Smart Lighting market: Signify (Philips Lighting), Legrand S.A., Acuity Brands Inc., Eaton Corporation, Genera, Electric Company, OSRAM Light, Lutron Electronics, Zumtobel Group, Honeywell International Inc., Hubbell Incorporated.

 

Market Highlights

The global Smart Lighting market is projected to be valued at $46.90 Billion by 2030, recording a CAGR of around 20.4% during the forecast period. Smart lighting is designed to manage luminance remotely by adjusting the intensity of its lighting depending on external conditions. It saves energy and includes automated controls and fixtures that could be adjusted depending on conditions such as occupancy and external light levels. Lighting systems can be used for practical as well as aesthetic purposes. Smart Lighting uses a range of light sources, including general, accent, and task lighting. In addition to this, their usage reduces energy consumption; it also saves money for businesses by reducing costs.

The COVID 19 pandemic has had an everlasting impact on people around the world. The smart lighting industry is trying to find ways to extract maximum gains from this crisis and ensure that it becomes a well-received cost-efficient product.  COVID-19 infected the market and led to a halt in production with serious damages across many regional supply chains. This weakened growth of industrial output, as well as a decline in light manufacturing output. Smart lighting solution Providers are trying to exploit various opportunities by expanding their reach in the industry.

Segmental Analysis

The global Smart Lighting market has been segmented based on the Offering, Communication Technology, Installation Type, End-Use Application, and region.

Based on Offering, the Smart Lighting market is segmented based on Hardware, Software, and Service. During the forecast period, the hardware segment for lights and luminaires is expected to dominate and grow at a fast pace mainly due to their increasing use in integrated lighting control.

Based on Communication Technology, the Smart Lighting market is segmented based on Wired and Wireless. The Wired segment is anticipated to hold the largest market. As the adoption of smart lighting in commercial and industrial spaces increases, there is an increasing demand for Wired connectivity. This demand is driving more production supply of these wired/cables.

Based on Installation Type, the Smart Lighting market is segmented based on New installations and Retrofit. The New Installation segment is anticipated to hold the largest market owing to several factors. Standard types of light fixtures have been around for a while but with the introduction of new technology, consumers are now more inclined to the new installation. This includes smart bulbs from Osram and GE, among others.

Based on End-Use Application, the Smart Lighting market is segmented based on Indoor and Outdoor. The Indoor segment is anticipated to hold the largest market share. Indoor Smart Lighting is seeing an increase in use for IoT purposes. It’s implemented in different parts of the house such as kitchens, living rooms, and study rooms.

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Regional Analysis

The Smart Lighting market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Across the world, Europe’s leading position is largely owed to the rapidly increasing popularity of intelligent and green light solutions. Concerns over environmental safety, as well as the significant presence of intelligent lighting applications, have encouraged consumers to explore new options in this area. The Asia-Pacific region saw significant growth in the smart lighting market during the forecast period. It is anticipated to have the highest growth in the coming years. The government is focusing more on public infrastructure and has begun to invest in rapid urbanization in the region, which is expected to increase the growth of the market. In North America, the rate of smart lighting system adoption has increased significantly due to a larger number of initiatives and guidelines from innovative organizations. The Middle East and Africa and Latin America are expected to experience moderate growth shortly, driven by the increasing development of foreign direct investments from Western Europe and North America.

Evolve Business Intelligence has published a half-cooked research report on the Global Security Robots Market, 2021–2030. The global Security Robots market is projected to exhibit a CAGR of around 8.72% during the forecast period of 2022 to 2030.

Evolve Business Intelligence has recognized the following companies as the key players in the global Security Robots Market: Elbit Systems Ltd., L3 Harris Technologies, Inc., DJI, Northrop Grumman Corporation, QinetiQ, Knightscope, Inc., AeroVironment, Inc., Leonardo SpA, ReconRobotics, Inc., and Lockheed Martin Corporation.

 

Market Highlights

The global Security Robots market is projected to be valued at $3.89 Billion by 2030, recording a CAGR of around 8.72% during the forecast period. Security robots are automated guards that are primarily in charge of surveillance and security tasks. They rely on modern technologies like AI, streaming video, and IoT to carry out their duties. All security robots come with HD cameras, electric motors, and modern high-capacity batteries – making them flexible and efficient. They can assist in reporting, monitoring intruders, detecting, and investigating. They are also efficient enough to help in patrolling surveillance areas. Security robots are becoming more popular because they’re more reliable, incorruptible, and cost-efficient than other security guards. They’re also used in many places such as malls, parking lots, and schools or campuses across the globe.

Due to the sharp increase in cases of coronavirus disease and the simultaneous rise in demand for security robots, there is a significant rise in their adoption. The pandemic has led to lockdown restrictions and social distancing. This can also be more attributed to a myriad of governing agencies imposing lockdowns on several countries.

Segmental Analysis

The global Security Robots market has been segmented based on the Type, Component, Application, and region.

Based on Type, the Security Robots market is segmented based on Unmanned Aerial Vehicles, Unmanned Ground Vehicles, and Unmanned Underwater Vehicles. The Unmanned Aerial Vehicles Segment is analyzed to hold the largest share of the Security Robots market. Most models such as drones are relatively low in cost and thus accessible to a wide range of users like commercial and recreational operators.

Based on Components, the Security Robots market is segmented based on Sensors, Controller Systems, Camera Systems, Navigation Systems, Power Systems, Propulsion Systems, and Others. The Camera Systems segment is expected to hold the largest market share. By using Cameras, businesses or the public can detect crimes that may have otherwise gone unnoticed. This allows them to prevent them in the first place and provides a safer environment for employees and citizens.

Based on Application, the Security Robots market is segmented based on Security Robots Industry, Spying, Explosive Detection, Firefighting, Demining, Rescue Operations, Transportation, Patrolling & Surveillance, and Others. The patrolling and surveillance segment holds the largest revenue share with its strongest growth in this area. It’s expected that spying will hold a larger share of business moving forward as well, due to growing demand from the defense sector.

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Regional Analysis

The Security Robots market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. North America dominates the global Security robot market due to the increasing number of active conflicts in the United States along with the rising number of terrorist attacks in schools and public places. The Asia Pacific is on track to grow at a rapid pace thanks to increased investment in strengthening military training and surveillance capabilities and governments acting more aggressively to counter infiltration, criminal activities, and terrorist threats. The Security Robots business in Europe has been consistently growing due to the investment of time and money to fit security measures, businesses are implementing enterprise security on a large scale within their facilities. With robots at their side along with other automated industrial robots powered by AI, they work tirelessly to mitigate any potential risks that might exist. The recent technological advancements in the Middle East and African countries have increased their demand for security robots. Escalating conflicts in Syria such as the War on Terror are adding to their need for assistance.